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WAEC Commerce 1998 Question 57

Question 57

Business Units

Any action taken by a company outside its stated objectives is regarded as

  1. A.caveat emptor
  2. B.ultra vires
  3. C.uberrimae fidei
  4. D.exemption
  5. E.formality
Show the answer and explanation

Answer: B (ultra vires)

Explanation

Acts beyond the powers in the objects clause are ultra vires.